Question: Considering the basic equation for any business, which one(s) is/are NOT true? (check all that apply) Profit = (Volume x Price) - Costs a) Keeping
Considering the basic equation for any business, which one(s) is/are NOT true? (check all that apply)
Profit = (Volume x Price) - Costs
a) Keeping price and costs constant, an increase in volume will lead to an increase in profit.
b) Keeping costs constant, an increase in price will lead to an increase in profit.
c) Keeping volume and costs constant, a 10% increase in price will lead to a 10% increase in profit.
d) Keeping price and costs constant, a 10% decrease in volume causes a 10% decrease in profit.
e) Keeping volume and price constant, an increase in costs will lead to a decrease in profit.
f) Keeping volume and costs constant, an increase in price will lead to an increase in profit.
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